The global market for genome editing and engineering is experiencing rapid growth. Estimated at $10.7 billion in 2023, it is projected to reach $37.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 19.4%. This report offers a detailed analysis of market trends, drivers, and forecasts, providing valuable insights for informed decision-making.
Key drivers of growth
Several factors are fuelling this expansion:
1. Increased investment: Both the private and public sectors are heavily investing in biotechnology. Pharmaceutical companies, venture capital firms, and government agencies recognise the transformative potential of genome editing. This influx of funding is accelerating the development of new therapies and agricultural solutions, as well as advancing related technologies like delivery systems and bioinformatics.
2. Rising demand for therapeutics: The growing prevalence of genetic diseases and cancer creates a strong demand for innovative treatments. As more genetic links to diseases are uncovered, the need for targeted therapies that address these conditions at their genetic roots becomes critical. Genome editing offers the possibility of correcting genetic mutations, making it an attractive option for treating inherited disorders and cancers.
3. Advancements in CRISPR technology: The development of CRISPR-Cas9 has revolutionised genome editing. This technology is more efficient, cost-effective, and versatile compared to earlier methods. Ongoing improvements, such as the creation of base editors and prime editors, are expanding the potential applications of genome editing, making it more accessible across various fields, including pharmaceuticals and agriculture.
4. Personalised medicine: The shift towards personalised medicine is another significant factor. As healthcare moves to tailor treatments based on a patient’s genetic makeup, genome editing emerges as a key tool in developing customised therapies, especially in cancer treatment and rare genetic disorders.
5. Regulatory support and public awareness: Regulatory bodies like the FDA and EMA are increasingly approving genome editing therapies, indicating growing acceptance of these technologies in mainstream healthcare. Additionally, rising public awareness of the benefits of genome editing is driving demand for innovative therapies.
Market insights
Market Segments: The Genetic Engineering Application segment is expected to reach $20.1 billion by 2030, with a CAGR of 18.1%. Clinical Applications are projected to grow even faster at a CAGR of 21.1%.
Regional Growth: The U.S. market was valued at $3.0 billion in 2023, while China is expected to grow at a 19.0% CAGR to reach $5.8 billion by 2030. Other key regions include Japan, Canada, Germany, and the Asia-Pacific.
The genome editing market is set for significant growth, driven by substantial investment, rising genetic disease prevalence, advancements in CRISPR technology, the trend towards personalised medicine, and increased regulatory support.
As this field evolves, its applications in medicine, agriculture, and biotechnology will expand, shaping the future of healthcare and scientific research.
